- Dot Ai completes business combination with ShoulderUp and will start trading on Nasdaq as "DAIC" and "DAICW".
- The company successfully raises $12 million through PIPE financing to fuel its growth strategy.
- New board members join Dot Ai, bringing extensive experience in technology, finance, and healthcare.
Dot Ai, a leader in asset intelligence technology, has finalized its business combination with ShoulderUp Technology Acquisition Corp, marking a significant milestone as it transitions to a publicly traded company. The newly combined entity will begin trading on Nasdaq on June 23, 2025, under the ticker symbols "DAIC" for its Class A common stock and "DAICW" for its warrants. This strategic merger was endorsed by ShoulderUp shareholders during a special meeting on February 6, 2025.
In conjunction with the business combination, Dot Ai has successfully raised $12 million in PIPE (Private Investment in Public Equity) financing. These funds are earmarked for expanding the company's research and development initiatives, enhancing its market approach, and growing its manufacturing operations based in Puerto Rico. The financial boost is part of Dot Ai's strategy to push its AI-driven asset intelligence technology forward in the marketplace.
Dot Ai’s CEO, Ed Nabrotzky, highlighted that the company is on a mission to transform supply chain management with its innovative AI technologies. He mentioned ongoing efforts to launch new products, strengthen partnerships with companies like Würth Industry USA, and secure contracts across various sectors. This new chapter will enable Dot Ai to further disrupt traditional methodologies and enhance value chain connections.
Phyllis Newhouse, CEO of ShoulderUp, emphasized the transformative potential of Dot Ai in shaping the future with cutting-edge technology, underscoring the significance of the partnership in driving industry innovation.
Additionally, Dot Ai has announced the induction of several key figures to its Board of Directors, including Phyllis Newhouse, Holly Grey, Joanna Burkey, Jeff Saling, Dr. Sheldon Paul, Dr. David Carlson, and Ed Nabrotzky. These new members bring a wealth of experience across various industries, promising to add strategic depth to the company's leadership team as it navigates this pivotal growth phase.
